Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Can we assume this will be another backdoor tax on the middle class? Higher energy costs but the people that vote for a living rather than work for one will get LIHEAP to foot the bill for them. Just another benefit of living in Illinois.